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Answer: In the following situations, any sum of gifted money received by Individual or HUF are not chargeable to tax: -
1. Any sum of money received by an Individual from the person covered in the definition of “Relativeâ€.
2. Any sum of money received by HUF from its members.
3. Any monetary gifts received by an Individual from any person on occasion of his /her marriage.
4. Any monetary gifts received by an Individual or HUF by way of inheritance or by will.
5. Any share of money received due to business re-organization of a co-operative bank.
6. Any money received from a trust / Institution, registered under section 12AA.
7. Any money received from a local authority.
8. Any money received in contemplation of death of payer or donor.
9. Any share of money received due to demerger or amalgamation of a Company.
Date Posted 29-Dec-2019
Posted By Kumar Prakash
Views: 699
Up to when we can expect the new Income tax forms for FY 2019-20.
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Up to when we can expect the new Income tax forms for FY 2019-20.
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Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
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Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
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Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More